Ulster 11.75

[MickR]

Hi

Does anyone own or have a view on these? look reasonable value and assume they are still paying

https://www.hl.co.uk/shares/shares-sear ... -sub-bonds

Mick

[Alaric]

look reasonable value

It's a wide spread, but then it's a small issue

Sell:£166.50 Buy:£173.50

Google search finds that some of the holding was bought back in a tender offer a couple of years ago.

http://otp.investis.com/clients/uk/rbs/ ... sid=931160

Is it part of RBS?

[Surerera]

As I remember these bonds have withholding tax deducted at source which you have to reclaim and that can be a hassle. It's all from memory so DYOR.

[Wizard]

Yes, Ulster Bank is part of the RBS Group. Not sure if it is part of the NatWest (retail bank) side or NatWest Markets (wholesale) side.

If this is the old FAP issue? If so, yes there is tax deducted that needs to be reclaimed. It would also be wkrth seeing if the UK leaving the EU will have any impact on the tax reclaim side.

[88V8]

There was some discussion on TMF about the reclaim process, which sounded a pain.
My broker is not willing to do it, and for my small holding I can't be bothered.
Net of tax the yield is about 5.6%, so fairly ho-hum.

If you're not already stuffed to the gunnels, BOI is around 6.3%.

V8